Market Overview - As of the week ending August 22, 2025, the main contract for alumina futures closed at 3138 CNY/ton, with a weekly increase in open interest of 9466 contracts [1] - During the week of August 18-22, alumina futures opened at 3212 CNY/ton, peaked at 3237 CNY/ton, and dropped to a low of 3081 CNY/ton, resulting in a weekly decline of 2.15% [1] Price and Supply Dynamics - The national average price for spot alumina was 3263 CNY/ton, remaining stable with a premium of 149 CNY/ton [2] - The FOB price for Australian alumina was 370 USD/ton, down by 1 USD/ton, indicating a closed theoretical import window [2] - As of August 21, the Shanghai Futures Exchange had 75953 tons of alumina warehouse receipts, an increase of 903 tons from the previous trading day [2] Institutional Insights - According to Everbright Futures, the fundamental support for alumina is weakening, but events in Shanxi, strong foreign mineral prices, and relatively resilient spot alumina prices may limit further declines in the short term [3] - Guotou Anxin Futures noted that alumina production capacity is at a historical high, with rising industry inventory and warehouse receipts, indicating a gradual emergence of oversupply [3] - The spot index for alumina is experiencing a downward trend, with a support level around 3000 CNY [3]
临近金九旺季 氧化铝期货3000元/吨位置具备支撑
Jin Tou Wang·2025-08-24 23:40